QUESTIONS WITH SOLUTIONS
GRADED A+
◍ Front.
Answer: Back
◍ Geographic location.
Answer: Which of the following is a standard method to group prospective
leads?
◍ Cold call on initial prospects of interest.
Answer: Which of the following is the LEAST effective method of
developing a list of prospects?
◍ What is the primary objective of identifying prospective merchant
customers?.
Answer: To ensure a continuous pipeline of potential customers by
following corporate-standard lead generation procedures.
◍ Why is managing lead sources by industry geography and market niche
important?.
Answer: It enables effective prioritization based on relevance expertise and
revenue potential.
◍ What factor is most important when prioritizing prospective merchants?.
Answer: Weighted revenue potential aligned with company guidelines.
◍ Why is identifying the decision-maker critical in the sales process?.
Answer: Only decision-makers have authority to approve payment solutions
and contracts.
◍ Aggressive telephone calls.
, Answer: Which of the following in NOT a part of the consultative sales
approach?
◍ What defines a consultative sales approach?.
Answer: Recommending solutions based on merchant needs rather than
selling a standard product.
◍ What does FAB stand for?.
Answer: Feature Advantage Benefit.
◍ Benefits.
Answer: In addition to features and advantages, traditional product
positioning includes which of the following?
◍ Open ended questions.
Answer: When first meeting a prospect, which of these activities might a
sales professional engage in to ease tension?
◍ Follow up questions.
Answer: Active listening is best supported by which of the following
activities when on a sales call?
◍ Stop and listen.
Answer: Which of the following is the most appropriate response when a
merchant objects to a particular solution being offered?
◍ Anticipating objections prior to the call.
Answer: Excellent sales people best prepare for objections by doing which
of the following?
◍ Price.
Answer: Which of the following is the largest negotiation element in any
sales call?
◍ Why is post-signup support critical?.
Answer: It drives merchant satisfaction retention upsells and referrals.
◍ What is interchange?.
Answer: A fee set by card networks and paid to issuing banks to cover
, rewards fraud risk and network costs.
◍ The return on investment of the product or service being sold to the
customer.
Answer: Which of the following is the BEST method of selling value over
price?
◍ A signed letter on letterhead, of acceptance from the owner.
Answer: Which of the following methods is NOT appropriate for contract
execution?
◍ Detailed technical knowledge.
Answer: Which of the following is NOT part of the ongoing sales support
function
◍ The acquiring bank.
Answer: In the United States, a merchant services contract is between a
merchant and which of the following?
◍ Who receives interchange fees?.
Answer: The card issuer.
◍ Item #, date and AVS info.
Answer: What data elements are required for a merchant's commercial card
transaction to qualify for Level 1, Level 2 and Level 3 Interchange
programs?
◍ Which factors influence interchange rates?.
Answer: MCC card brand card type transaction entry method and data
passed.
◍ Regulated debit card transactions from large issuing banks.
Answer: What types of transactions and which banks were regulated by the
Durbin amendment to the DoddFrank Wall Street Reform and Consumer
Protection Act?
◍ Swiped sales under $15.
Answer: What constitutes a small ticket transaction?